In 2020, the U.S. average freight revenue per ton-mile in Class I rail traffic stood at 4.4 U.S. dollar cents. This was a slight drop compared to 2019, which recorded the highest average freight revenue since 1990, when the average freight revenue per ton-mile was at 2.66 U.S. dollar cents.
Coal drives the sector
Coal has traditionally been one of the most transported commodities on Class I freight railroads in the United States – along with intermodal freight. In 2019, revenue generated by coal haulage on U.S. Class I railroads was at 9.3 billion U.S. dollars out of around 73 billion U.S. dollars generated by all commodities transported on these railroads. The United States ranked third in the world for its coal consumption a year later, in 2020, positioned after China and India, who occupied the top two spots. However, while coal was the most significant commodity hauled across North America in terms of volume, the coal industry remained a national issue - coal trade among the region was unpopular, while vehicles were the most traded commodity.
Gloomy forecasts for coal freight revenue
Although the demand for freight transportation by railroad in the United States is generally anticipated to grow over the next decades, rail freight companies anticipate considerable financial challenges ahead due to a lower national demand for coal, as U.S. consumers’ energy source preferences shift to alternatives, such as natural gas and solar. Not only will rail freight carriers such as BNSF and Union Pacific – whose revenue from coal transport contribute significantly to their overall revenue – be hit hard financially, the United States may have to rely even more on revenue generated by their coal exports.
U.S. average freight revenue per ton-mile in Class I rail traffic from 1990 to 2020
(in current U.S. dollar cents)
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US Department of Transportation. (February 25, 2022). U.S. average freight revenue per ton-mile in Class I rail traffic from 1990 to 2020 (in current U.S. dollar cents) [Graph]. In Statista. Retrieved December 09, 2024, from https://www.statista.com/statistics/187274/us-average-freight-revenue-in-class-i-rail-traffic-since-1990/
US Department of Transportation. "U.S. average freight revenue per ton-mile in Class I rail traffic from 1990 to 2020 (in current U.S. dollar cents)." Chart. February 25, 2022. Statista. Accessed December 09, 2024. https://www.statista.com/statistics/187274/us-average-freight-revenue-in-class-i-rail-traffic-since-1990/
US Department of Transportation. (2022). U.S. average freight revenue per ton-mile in Class I rail traffic from 1990 to 2020 (in current U.S. dollar cents). Statista. Statista Inc.. Accessed: December 09, 2024. https://www.statista.com/statistics/187274/us-average-freight-revenue-in-class-i-rail-traffic-since-1990/
US Department of Transportation. "U.S. Average Freight Revenue per Ton-mile in Class I Rail Traffic from 1990 to 2020 (in Current U.S. Dollar Cents)." Statista, Statista Inc., 25 Feb 2022, https://www.statista.com/statistics/187274/us-average-freight-revenue-in-class-i-rail-traffic-since-1990/
US Department of Transportation, U.S. average freight revenue per ton-mile in Class I rail traffic from 1990 to 2020 (in current U.S. dollar cents) Statista, https://www.statista.com/statistics/187274/us-average-freight-revenue-in-class-i-rail-traffic-since-1990/ (last visited December 09, 2024)
U.S. average freight revenue per ton-mile in Class I rail traffic from 1990 to 2020 (in current U.S. dollar cents) [Graph], US Department of Transportation, February 25, 2022. [Online]. Available: https://www.statista.com/statistics/187274/us-average-freight-revenue-in-class-i-rail-traffic-since-1990/